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MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

2014 Mercedes-Benz S-class arrives

Mercedes-Benz has pulled the wraps off of the 2014 S-class at a media presentation in Hamburg, Germany, revealing a technological tour de force that the firm hopes will continue the plush sedan’s traditional dominance at the top of the global luxury car market. Set to arrive in North American showrooms in September, the Mercedes-Benz flagship is charged with the task of replacing not one but two different model lines. On the one hand, it has been developed to fill the role of the previous generation S-class on sale since 2007.

GM repays Government loans – sort of

GM Loans repaid early - or are they? We can’t deny that GM are making a pretty good job of rising Phoenix-like from the ashes of their effective bankruptcy. A new focus on cars that are relevant for our times instead of a fixation with dated products and dated management has certainly helped.